Shock or fork upgrade

I have an '04 FSR XC base model and have saved enough money to upgrade either the fork (Manitou Axel Comp) or the rear shock (Fusion-X thingy). I have about $350 to spend, which should I do first? Why? What brand/ model of either fork or shock woulld you buy? I ride XC as a past time only.

FSR XC Shock and Fork

I have the same bike. I have upgraded the fork to a Manitou Black Super Air 100mm with TPC Lockout. The shock I upgraded to a Cane Creek Cloud 9. The fork I got on closeout from Greenfish for about $250 and the rear shock I got from Cane Creek on the shock upgrade program for $225. I upgraded the fork first and then the shock. Once you upgrade one you will want to do the other to give it a better balance. But if you only have enough money for one or the other I would probably start with the rear shock and get rid of that cheap coil.